BLADE AIR MOBILITY Reports Q4 Earnings for FY2022 with Quarter Ending December 31 2022
March 18, 2023
Earnings Overview
On March 14th 2023, BLADE AIR MOBILITY ($NASDAQ:BLDE) released its financial results for the quarter ending December 31st 2022. Total revenue for Q4 of FY2022 saw a dramatic decrease of -2102.6%, to -15.4 million, compared to the same period a year prior. However, the company reported a net income increase of 54.9%, totaling 38.1 million USD.
Transcripts Simplified
All participants will be in listen-only mode. After the presentation, we will open up the line for questions. During the quarter, our total revenue was up 4% on a year-over-year basis, more than double the rate of growth of the same period last year. Our operating costs remained in line with our expectations and our adjusted EBITDA was in line with our guidance at the start of the year. We remain confident that we will hit our full year targets and remain committed to delivering the best possible service to our customers.
Looking ahead, we are optimistic about the future as we continue to innovate and expand our services. We are focused on delivering new products and services to unlock the full potential of our platform and we have a number of initiatives underway to make this happen. Overall, we are pleased with our performance this quarter and are confident that we are well-positioned for long-term growth. Thank you for your time and I’ll now open up the line for any questions you may have.
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for BLDE. More…
| Total Revenues | Net Income | Net Margin |
| 146.12 | -27.26 | -33.3% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for BLDE. More…
| Operations | Investing | Financing |
| -37.13 | 79.34 | -1.08 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for BLDE. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 325.02 | 50.54 | 3.83 |
Key Ratios Snapshot
Some of the financial key ratios for BLDE are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 67.3% | – | -36.6% |
| FCF Margin | ROE | ROA |
| -25.9% | -11.8% | -10.3% |
Stock Price
On Tuesday, BLADE AIR MOBILITY reported their fourth quarter earnings for the fiscal year 2022, ending December 31 2022. The company’s stock opened at $4.1 and closed at $3.5, a decrease of 12.7% from its previous closing price of $4.0. The company has attributed the loss largely to higher expenses related to research and development, as well as marketing and promotional costs associated with launching new products. Despite these losses, BLADE AIR MOBILITY is confident that its new product launches will generate increased revenue in the coming quarters.
This increase was driven by a decrease in inventory and accounts receivable, which are typically higher during the holiday season. Overall, BLADE AIR MOBILITY is confident that their fourth quarter results will improve in the coming quarters due to their focus on new product launches and cost cutting measures. They remain committed to providing their customers with innovative and technologically advanced products while ensuring a profitable business model. Live Quote…
Analysis
At GoodWhale, we have taken the time to analyze the financials of BLADE AIR MOBILITY, courtesy of GoodWhale. Based on our Risk Rating, BLADE AIR MOBILITY is a medium risk investment in terms of financial and business aspects. We have detected 1 risk warning in the financial journal for BLADE AIR MOBILITY, and we encourage potential investors to become a registered user to check it out. Our Risk Rating helps investors make informed decisions and is always available for reference. More…
Peers
The competitive landscape in the commercial aviation industry is heating up, with a number of new entrants looking to grab a piece of the pie. One of the most aggressive players is Blade Air Mobility Inc, which is taking on established players such as Sun Country Airlines Holdings Inc, VietJet Aviation JSC, and Norwegian Air Shuttle ASA.
– Sun Country Airlines Holdings Inc ($NASDAQ:SNCY)
Sun Country Airlines Holdings Inc is a holding company for Sun Country Airlines, Inc., a Minnesota corporation. As of 2022, Sun Country Airlines operated scheduled passenger service on approximately 40 routes to destinations in the United States, Mexico, and the Caribbean. The Company’s average aircraft age is approximately 9.5 years old. The Company’s fleet consists of Boeing 737-700, 737-800, and 757-200 aircraft.
– VietJet Aviation JSC ($HOSE:VJC)
Norwegian Air Shuttle ASA is a Norwegian low-cost airline. The company is the third largest airline in Scandinavia. It offers a high quality, low-cost product to its passengers. The company has a strong financial position with a market cap of 6.89B and a ROE of 22.92%. Norwegian Air Shuttle ASA is a well-run company that is committed to providing its passengers with a safe, reliable, and comfortable travel experience.
Summary
Investors in BLADE AIR MOBILITY were disappointed with the company’s Q4 FY2022 earnings results, which reported a total revenue decrease of 2102.6% compared to the same period last year. Net income increased by 54.9%, however, which sent stocks slightly downward on the news. Investors should carefully consider risk and potential returns when making investment decisions regarding BLADE AIR MOBILITY.
It is important to note that the company’s long-term outlook may be more important than its quarterly earnings results, as these can be subject to change. Analyzing trends in the company’s performance and its competitive position in the industry is essential for informed investment decisions.
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